Protein Engineering Market Research Report by Key Players Analysis 2023

Protein engineering is defined as the process for the development of new, valuable and useful proteins. Protein engineering can be achieved with two techniques, namely directed evaluation and rational protein designing. Proteins possess a dynamic ability of less immunogenicity and high specificity. Using this ability, proteins can be engineered in such a way that they can be used as therapeutic agents. Owing to the technological advancements, unnatural proteins (amino acids) can also be used for the purpose of protein engineering. This technique can be applied not only in the field of therapeutics, but also in food, detergent and industrial products.

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Protein engineering market is rapidly growing and promises lucrative growth opportunities owing to the increasing number of engineered proteins and amino acids globally. It is majorly witnessing positive growth due to the rising utilization of protein drugs over non protein ones. Moreover, increasing prevalence of lifestyle and chronic diseases such as diabetes, blood pressure, cardiovascular diseases and others further boost the demand for protein engineering. For example, according to the World Health Organization (WHO), about 235 million people were affected from asthma in 2013. Additionally, the organization stated that cardiovascular diseases accounted for 9.4 million deaths each year, of these high blood pressure accounted for 16.4% deaths worldwide. Increasing incidences of chronic diseases would stimulate the demand for protein engineering in order to develop effective protein drugs for the treatment of chronic diseases, leading to the market growth. Additionally, favorable initiatives by the North American and European government to support the growth of protein engineering market establishes healthy platform for the protein engineering market. Other key contributors for the growth of protein engineering market in addition to technological advancements, isrising need for medicine with higher specificity stimulating the market growth in the near future. However, lack of trained professionals coupled with high cost of protein engineering instruments hampers the overall market growth.Moreover, huge research and development costs, higher probability of failure of the research, stringent regulatory norms, lack of awareness and technological limitations could restrain the market growth.

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Geographically, North America dominates the protein engineering market owing to the rising number of research activities coupled with positive government initiatives. Europe is considered as the second largest market for the protein engineering due to the rising demand for protein based drugs coupled with technological advancements. However, Asia-Pacific market is the fastest growing market due to rising investments by Asia Pacific government to improve healthcare infrastructure. Additionally, increasing demand for protein engineering techniques further boost the growth of the market in the Asia Pacific region.

Some of the major market players in the global protein engineering market include Novartis AG, GlaxoSmithKline Inc., Bio-Rad Laboratories, Inc., General Electric Company, PerkinElmer, Inc.,Eli Lilly and Company, Bruker Corporation, Johnson and Johnson, Thermo Fisher Scientific, Merck and Co., Inc.,Genentech, Inc., and Waters Corporation.

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This release was published on openPR.